Liam Denning, Columnist

Shale's Mister Fix-It: Saudi Arabia

By keeping oil prices afloat, the kingdom helps rivals cling to life.

March 17, 2017 at 2:46 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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Things are looking up in Shalelandia these days. Oil prices, despite the most recent drop, have stayed close to $50 a barrel. Rig-counts and production are rising. Even Saudi Arabia is looking discombobulated.

Lest we forget, though, the chief reason things are looking up is because E&P companies fell way down.